ISM manufacturing PMI
- Prior report 46.0
- ISM Manufacturing PMI 46.4 versus 46.8 expected
- Prices paid 42.6 vs 42.8 expected. Last month 41.8
- Employment 44.4 vs 48.0 expected. Last month 48.1
- New orders 47.3 vs 45.6 prior
US manufacturing is undoubtedly in a recession but there may be signs that the recession has bottomed and I’m beginning to believe that an upside risk for 2024 is from manufacturing. It’s early but the ‘new orders’ component is turning up and that’s a forward-looking data point.
new orders component